Passive Fire Protection Materials Market
REPORT DESCRIPTION
Itaconic Acid Market for Synthetic Latex, Unsaturated
Polyester Resins, Detergents, Superabsorbent Polymers (SAP),
and Other Applications - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015 - 2023
Transparency Market Research has published a new report titled “Itaconic Acid Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to the
report, the global itaconic acid market was valued at US$ 126.4 Mn in 2014 and is anticipated to
reach US$ 204.6 Mn by 2023, expanding at a CAGR of 5.5% between 2015 and 2023.
Itaconic acid is an important building block in the chemical industry. It is a white crystalline powder
and readily biodegrades in soil. Hence, it is an optimum substitute for petro-derived chemicals such
as acrylic acid, maleic anhydride, or acetone cyanohydrin in various end-user industries. The demand
for itaconic acid is high in the manufacturing of superabsorbent polymers (SAP). Itaconic acid is used
as a cross-linking agent due to its ability to efficiently take part in addition polymerization. SAP is
readily used in diapers, adult incontinence, and feminine hygiene products. It also finds large
application in seed coating, root dipping, ornamental gardens, food packaging, and artificial snow.
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Moreover, increasing demand for unsaturated polyester resins (UPR) in pipes, artificial stones,
electrical cabinets, and laminating resins is expected to increase the demand for itaconic acid. High
price of itaconic acid is the major factor hampering the growth of itaconic acid market. The prices of
itaconic acid are currently higher than its counterparts and hence, the potential for replacement is less
significant. However, the growth potential is slated to rise in the near future due to the ongoing
development and exploration of novel production technology.
Synthetic latex was the largest application segment of the itaconic acid market in terms of volume in
2014 and held more than 55% share of the global itaconic acid market. The segment is expected to
witness the second fastest growth rate during the forecast period. Detergents application segment is
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